XML 39 R16.htm IDEA: XBRL DOCUMENT v3.19.3
Common Stock and Stock-Based Compensation
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Common Stock and Stock-Based Compensation Common Stock and Stock-Based Compensation
Increase in Authorized Shares of Common Stock
In May 2019, our stockholders approved and we filed an amendment to our Fifth Amended and Restated Certificate of Incorporation, as amended, to increase the total number of authorized shares of common stock from 50,000,000 to 100,000,000.
Equity Incentive Plans
We have issued stock-based awards from various equity incentive and stock purchase plans, as more fully described in the consolidated financial statements and related notes included in our 2018 Annual Report on Form 10-K.
At December 31, 2018, 1,550,351 shares were available for grant under our 2010 Equity Incentive Award Plan (2010 Plan). Pursuant to its evergreen provision, the number of shares reserved for issuance under the 2010 Plan automatically increases on January 1 of each year, commencing on January 1, 2013, and on each January 1 through and including January 1, 2020, in an amount equal to 4% of the total number of shares of common stock outstanding on December 31 of the preceding year, or a lesser number of shares as determined by our board of directors. On January 1, 2019, the increase in shares reserved for issuance pursuant to the evergreen provision was limited to 589,619 shares as the 2010 Plan’s maximum 7,500,000 shares reserved for issuance was reached.
In May 2019, our stockholders approved the amendment and restatement of our 2010 Plan (2010 Restated Plan), which provided an increase in the number of shares of common stock reserved for issuance pursuant to awards granted under our 2010 Plan from 7,500,000 to 11,500,000 and an extension of the term of the 2010 Plan through March 2029. In addition, the 2010 Restated Plan eliminated the evergreen provision that provided for an annual increase in the number of shares available for issuance under the 2010 Plan on January 1 of each year discussed above. Following its approval, all future issuance of equity awards will be granted under the 2010 Restated Plan (other than the shares available for purchase under our 2010 Employee Stock Purchase Plan). As of September 30, 2019, 5,218,040 shares were available for future issuance under the 2010 Restated Plan.
Stock Options
The following is a summary of stock option activity for the nine months ended September 30, 2019 (in thousands, except per share data):
Shares
Weighted-
Average
Exercise
Price per Share
Outstanding at December 31, 20183,744  $20.69  
Granted
994  49.94  
Exercised
(544) 14.82  
Canceled
(81) 34.46  
Outstanding at September 30, 20194,113  $28.26  

Restricted Stock Units
The following is a summary of restricted stock unit activity for the nine months ended September 30, 2019 (in thousands, except per share data):
Shares
Weighted- Average Fair Value per Share at Grant Date
Outstanding at December 31, 2018289  $25.56  
Granted
169  52.56  
Vested
(37) 43.10  
Canceled
(42) 32.20  
Outstanding at September 30, 2019379  $35.13  

Stock-Based Compensation Expense Allocation
The following table summarizes the components of total stock-based compensation expense included in the condensed consolidated statements of operations (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2019201820192018
Research and development$2,012  $3,275  $5,521  $5,018  
Selling, general and administrative3,423  3,706  9,495  6,934  
Compensation expense related to acquired IPR&D4,927  —  4,927  —  
Total$10,362  $6,981  $19,943  $11,952